If you visited our website, attended a webinar, or read one of our blogs, then you've heard we are built from industry feedback. That we identified 111 frustrations, questions and challenges, and used those as the blueprint for Federal Compass.
The Federal government has become one of the largest incubators for small businesses. A reliable and secure customer that sets aside a portion of the hundreds-of-billions of dollars spent every year to create a safe harbor for start-ups and growing companies. However, those gaudy topline numbers act as neon lights attracting newcomers and obscuring the complexities and nuances that exist within the Federal market.
I was reading a research report a few years ago on the president’s latest budget. These were the Obama years, and with a Republican congress a continuing resolution was all but assured. What’s most interesting about the report, and what really took me back, is how little it mattered to me. Not that budgets don’t matter (they do!), but that this was the exact same report that everyone in the industry was consuming and then applying to their strategic decision-making process. That’s a problem.
As many others in this industry, I’ve worked with FPDS data for a long time. I suppose the good news is that the system has changed little over the years, so time invested in learning its quirks is worthwhile. Below, I’ve outlined a few methods for maximizing its value and pitfalls that you may encounter.
Monitoring SAM is a way of life if you conduct business with the Federal government. Contractors of all sizes and levels of maturity depend on SAM as a critical source for information and lead generation.
In our previous post, we reported on objective data and provided insights from those companies who both succeeded and struggled after graduation. In this post, we examine the best practices and lessons learned from contractors who have navigated the struggles of life after 8(a) graduation. Learn more by downloading the free eBook, 8(a) Exit and Transition Guide.
When it comes to 8(a) graduations, the numbers tell the story. For the majority of companies, the years following graduation rarely lead to continued success. Instead, reality tends to be a sudden, sustained, and dramatic loss of revenues. If that statement seems a bit exaggerated, we encourage you to read our 8(a) graduation ebook where objective data proves that this statement is far more than an alarmist prophecy. Learn more by downloading the free eBook, 8(a) Exit and Transition Guide.
Revenue growth is the primary focus of every small business, but in a market as complex and fluid as the federal contracting market, growth can often stall due to the lack of the right resources. And when effectively managing expenditures puts the right resources out of reach, small businesses often get caught in a growth Catch-22.
We meet with many small business owners and executives and listen to the unique challenges that they face with government contracting. Those discussions and that feedback works its way into every aspect of our products. That’s why, at Federal Compass, we aim to level the playing field by empowering small business contractors. Learn more by downloading the free eBook, Small Business Guide for Federal Contractors.
FPDS, also known as FPDS NG, or the Federal Procurement Data System, is the central real-time database for government contracting transactions. The system is meant to ensure trust and transparency in federal spending. FPDS is the most comprehensive and definitive source for government contracting transparency data, although it does not contain all awards (we’ll touch on that below). The award information in FPDS is used by the President, Congress, GAO, and other agencies to form policy decisions and to report on trends.
